Thursday, October 2, 2014

4 Funding Programs Offered to Veteran-Owned Businesses

According to the U.S. Small Business Administration (SBA), veterans operated more than 2.4 million businesses across the country in 2012. It's good to know that there are funding programs available that provide grants and other funding specifically for veterans to either start or grow a business of their own.

Here are 4:1. Self-employment grants for service-disabled veterans - this program, offered through the Veterans Administration (VA), provides business funding for veterans with service-connected disabilities. The grants can be used for equipment, inventory, supplies, training, licensing fees and marketing.2. Angel investment group supporting veterans - angel investment group Hivers and Strivers provides funding from $250,000 to $1 million for start-up companies founded and run by graduates of U.S. military academies. They will also help start-up companies find additional funding from other investment companies. 3. Venture capital fund serving veterans - venture capital fund The Veterans’ Opportunity Fund (VOF) provides funding up to $3 million to businesses that are started, owned and/or managed by veterans of the United States armed forces. Businesses served are on the East Coast and represent technology, health care, business services, and specialty manufacturing.

4. Online lending for veterans - online lending company Street Shares helps veterans who want to start or expand their businesses by connecting them to investors. Loans range from $5,000 - $50,000, and veteran business owners can apply online in just 10 minutes.